REALTOR® Magazine-Daily News-Mortgage Delinquencies Are Still Rising

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Daily Real Estate News | November 18, 2009 | Mortgage Delinquencies Are Still Rising
Mortgage delinquencies rose for the 11th straight month, reaching 6.25 percent in the third quarter from 3.96 percent a year earlier and 5.81 percent in the second quarter, according to the credit management company TransUnion.

"Until the housing market can consistently demonstrate several months of home value appreciation and the unemployment rate improves, mortgage delinquency will likely continue to rise," said F.J. Guarrera, vice president of TransUnion's financial services division.

Mortgage delinquency rates were highest in Nevada and Florida, reaching 14.5 percent and 13.3 percent, respectively. They were lowest in North Dakota and South Dakota at 1.7 percent and 2.3 percent respectively.

The District of Columbia had the highest debt per borrower at $359,788, while West Virginia had the lowest at $97,265.

Source: The Wall Street Journal, Joan E. Solsman (11/17/2009)